Filing Flows › Mistras Group (MG) › Q3 2026 › vs Q3 2025
Mistras Group (MG) Q3 2026 vs Q3 2025 (year over year)
Mistras Group's revenue rose $9.1M (+5%) from $196M in Q3 2025 to $205M in Q3 2026. The biggest changes: Infrastructure, Research & Engineering +$7.4M (+70%); Oil & Gas −$6.3M (-6%); Aerospace & Defense +$4.3M (+18%). Gross margin 30.3% against 29.8% (+0.6 pts).
Mistras Group, Q3 2026: revenue $205M (+5% year over year), operating margin 7.4%, net earnings $6.9M, operating cash flow $11.7M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 30.3% | 29.8% | +0.6 pts |
| Operating margin | 7.4% | 10.4% | -3.1 pts |
| Net margin | 3.4% | 6.8% | -3.4 pts |
| Free cash flow margin | 0.3% | -2.1% | +2.4 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Oil & Gas | $99.4M | $106M | −$6.3M | -6% |
| Aerospace & Defense | $28.6M | $24.2M | $4.3M | +18% |
| Industrials | $24.7M | $22.6M | $2.1M | +9% |
| Infrastructure, Research & Engineering | $18.0M | $10.6M | $7.4M | +70% |
| Power Generation & Transmission | $15.9M | $14.5M | $1.4M | +10% |
| Other Process Industries | $10.2M | $8.8M | $1.4M | +16% |
| Other | $5.5M | $5.5M | −$66K | -1% |
| Petrochemical | $2.5M | $3.7M | −$1.3M | -34% |
| Revenue | $205M | $196M | $9.1M | +5% |
| Gross profit | $62.0M | $58.2M | $3.8M | +7% |
| Cost of revenue | $143M | $137M | $5.2M | +4% |
| Operating profit | $15.0M | $20.4M | −$5.3M | -26% |
| Operating expenses | $47.0M | $37.8M | $9.2M | +24% |
| Pre-tax earnings | $11.1M | $17.0M | −$5.9M | -35% |
| Other expense, net | $4.0M | $3.4M | $587K | +17% |
| Research & development | $247K | $210K | $37K | +18% |
| SG&A | $38.5M | $33.5M | $5.0M | +15% |
| Other operating costs | $8.2M | $4.1M | $4.1M | +100% |
| Net earnings | $6.9M | $13.2M | −$6.3M | -48% |
| Income tax | $4.2M | $3.8M | $375K | +10% |
| Depreciation & amortization | $8.9M | $7.7M | $1.2M | +15% |
| Share-based compensation | $1.7M | $1.5M | $259K | +18% |
| Working capital & other | $5.8M | $17.9M | −$12.1M | -68% |
| Operating cash flow | $11.7M | $4.5M | $7.3M | +163% |
| Free cash flow (OCF − capex) | $686K | −$4.1M | $4.8M | — |
| Capital expenditures | $11.0M | $8.5M | $2.5M | +29% |
Questions
How much did Mistras Group's revenue grow year over year in Q3 2026?
Mistras Group's revenue rose $9.1M (+5%) from $196M in Q3 2025 to $205M in Q3 2026.
What drove Mistras Group's revenue change in Q3 2026?
Infrastructure, Research & Engineering +$7.4M (+70%); Oil & Gas −$6.3M (-6%); Aerospace & Defense +$4.3M (+18%).